3.12.2013

Government Banks in the Philippines

By Nora
Updated November 14, 2015

There are only 3 government banks in the Philippines.

All 3 are universal banks.

Land Bank of the Philippines
LandBank Plaza Bldg.
1598 M. H. Del Pilar cor. Dr. J. Quintos St.
Malate, Manila 1004
- No. of Offices: 370
- Founded in 1963
- Became a universal bank in 1973
 
Development Bank of the Philippines
Headquarters:
Gil Puyat Avenue corner Makati Avenue
Makati City
- No. of Offices: 113
- Started as Agricultural and Industrial Bank in 1939
- Renamed Development Bank of the Philippines in 1958
- Became a universal bank in 1995


Al-Amanah Islamic Investment Bank of the Philippines
Headquarters:
PHIDCO A. Building
Veterans Avenue, Zamboanga City

Executive Office:
4th Floor Development Bank of the Philippines
Gil Puyat Avenue corner Makati Avenue
Makati City 1200
No. of Offices: 9
- Started in 1973 as Philippine Amanah Bank
- Renamed Al-Amanah Islamic Investment Bank of the Philippines in 1990
- Only bank authorized to operate under Islamic banking concepts
- Owned and controlled by the Development Bank of the Philippines


What About Philippine National Bank?

The Philippine National Bank (PNB) was created as a government bank in 1916, but it started getting privatized in 1989 when its stocks were listed in the stock exchange.

In 1996, PNB became a private bank when the government's ownership was reduced to 46%.

In 1999, a group led by Lucio Tan acquired 35% of the bank and increased its ownership to 69.32% in 2000. It further increased its ownership to 77.43% in 2005.

In 2007, the government sold all its remaining shares in PNB to the public.

1 comment:

  1. hello i am maried in phillipines 09/09/2014 but im living in spain but i need to open acount in phillipines for saving for my family and buy one home and business plees i need open acount helpe me plees thanku

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